TMI BlogConversion of unlimited liability company into a limited liability company by shares or guaranteeX X X X Extracts X X X X X X X X Extracts X X X X ..... hall within seven days from the date of passing of the special resolution in a general meeting, publish a notice, in Form No. INC-27A of such proposed conversion in two newspapers (one in English and one in vernacular language) in the district in which the registered office of the company is situate and shall also place the same on the website of the Company, if any, indicating clearly the proposal of conversion of the company into a company limited by shares or guarantee, and seeking objections if any, from the persons interested in its affairs to such conversion and cause a copy of such notice to be dispatched to its creditors and debentures holders made as on the date of notice of the general meeting by registered post or by speed post o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng forth the following details, namely:- (i) the names and address of every creditor and debenture holder of the Company; (ii) the nature and respective amounts due to them in respect of debts, claims or liabilities: (iii) declaration by a Director of the Company that notice as required under sub-rule (2) has been dispatched to all the creditors and debenture holders with proof of dispatch. g. a declaration signed by not less than two Directors of the Company, one of whom shall be a Managing Director where there is one, to the effect that they have made a full enquiry into the affairs of the Company and, having done so, have formed an opinion that the list of creditors is correct, and that the estimated value as given in the li ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g that the company has satisfactorily addressed the objections received by the company, suitably decide whether the approval for conversion should or should not be granted. (6) The certificate of incorporation consequent to conversion of unlimited liability company to into a company limited by shares or guarantee be in Form INC-Il A issued to the company upon grant of approval for conversion. (7) Conditions to be complied with, subsequent to conversion.- (1) Company shall not change its name for a period of one year from the date of such conversion. (2) The company shall not declare or distribute any dividend without satisfying past debts, liabilities, obligations or contracts incurred or entered into before conversion. Ex ..... X X X X Extracts X X X X X X X X Extracts X X X X
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